Here’s How Much the Average Massachusetts Resident Will Spend on Christmas
As holiday shopping ramps up and credit card bills and bank statements start to roll in, you might be wondering how much Massachusetts residents spend on Christmas, and do you spend more or less.
While I don't even have my own children to buy for, between my family and friends the spending adds up quickly. If you do have children the spending can get out of hand. According to a new study from Fidelity Investments, parents in Massachusetts will spend an average of $811 spent on children this holiday season.
According to new statics from Wallet Hub, the average Massachusetts shopper will spend $1633 on Christmas this year. The almost $1700 splurge puts Massachusetts at number 7 in the United States on the spending list.
The state that spent the most this holiday season? According to the Chamber of Commerce, Maryland was the top state this season for holiday spending racking up an average of $2714.50.
The state that spent the least? West Virginia. The Mountain State only spent $355.42 on holiday shopping this year.
The Chamber of Commerce says many factors contribute to certain states' holiday spending habits, such as the average income or how that state's local economy is faring. For example, in Maryland, the median household income is $84,805, the highest in the country this year. The Chamber says, "it stands to reason that people who make more have more discretionary income to devote to the holidays." Likewise, the state of Utah, which came in at number two on the list of state spending, has the top-rated state economy thanks to its inviting business environment, employment opportunities, and growth potential, according to the U.S. News and World Report.
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